Here’s the latest update on the Greenville real estate market. This page is updated every month to keep a running archive of Greenville’s real estate statistics from our local MLS. If you’re moving to Greenville and have questions about Greenville real estate market, don’t hesitate to contact us. We’d love to discuss in detail the activities in our local market. If you’re on the market to sell your home or buy a home, this data will help you gauge if it’s a good time to sell or buy.
The Current State of the Real Estate Market in Greenville
Updated March 13, 2022
February 2022 Greenville Real Estate Statistics
Average Sales Price
$336,272
*16.4% year-over-year increase
Average Sales Price in February 2021:
$288,925
Median Sales Price
$289,445
*20.6% year-over-year increase
Median Sales Price in February 2021:
$239,950
NOTE: The average sales price is the combined average of all sold properties in greater Greenville for the same time period. The median home price is the most common sales price of all the homes sold in greater Greenville from our last month’s sales in February 2022.
New vs. Sold Listings
1,457 vs. 1,150
February 2021 New Listings: 1,502
February 2021 Sold Listings: 1,064
There were 1,457 new listings submitted to our MLS last month. That was a 3.0% decrease from the previous year. There were 1,150 homes sold last month, a 8.1% increase year-over-year.
Inventory of Homes
2,051
*1.3% year-over-year decrease
Inventory of Home in February 2021:
2,078
There were only 2,051 active real estate listings in Greenville last month. There were 2,078 active listings last year in February. That’s a 1.3% decrease in available homes for sale in one year.
Days on Market
30 Days
February 2021: 46 Days
The average days-on-the-market for homes listed in February 2022 was 30 days. That’s a 34.8% drop from the same time last year.
Price Trend in Greenville Real Estate Market
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The market trend reflects the home value index for February 2022, going back 10 years.
Inventory of Homes for Sale by Month in Greenville Real Estate Market
Is Greenville in a buyer’s or seller’s market right now?
Greenville is a seller’s market in February 2022
Greenville real estate market continues to experience a strong seller’s market as median sales price was up 20.6 percent to $289,445 and days on market decreased 34.8 percent to 30 days. Months supply of homes was down to 1.3 percent to 2051 units indicating that there’s more demand than supply. Sellers are still experiencing record sales prices, and buyers are still having a hard time finding homes.
Even with interest rates rising in the first quarter of the year, housing prices are still increasing. The supply of homes is not enough to meet the demand for single-family homes in Greenville.
With inventory shortage, many prospective buyers are turning to new construction homes but with rising construction costs, many buyers are finding they can’t afford to purchase a new home. The low inventory of homes boosts demand which helps home prices soar even further.
Is it a good time to buy a home in Greenville, SC?
The current local market condition indicates it’s a seller’s market. Whether this is a good time for you to buy a house in Greenville or not depends on your financial situation, goals, and readiness to become a homeowner.
In this hot market, serious buyers are willing to try many different tactics to get their offers accepted. Therefore, it’s essential to essential to have a good real estate agent and mortgage lender to help navigate through this challenging market.
*Based on information from GGAR, for the period February 1, 2022, through February 28, 2022.
See previous monthly real estate reports in Greenville
Source: GGAH
